Financial Risk Management
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- M1 Video Tutorials & WebinarsVideo Tutorials & Webinars are short videos that cover technical content and address complex areas and candidate pain points in each module, helping to guide you through the study guide and keep you on track during the semester.
Free CPA Assist includes Module 1 content. - M1 PDF DownloadsPDF Downloads are provided for key pieces of content including webinar slides, flowcharts, case studies and assumed knowledge primers. Additional downloads may be in spreadsheet, presentation or document form.
Free CPA Assist includes Module 1 content. - M1 Revision QuizzesRevision Quizzes are practice tests such as module quizzes and quick-fire quizzes that are available for each module, consisting of multiple choice questions with detailed solutions to reinforce your learning.
Free CPA Assist includes Module 1 revision quizzes. - Mid-Semester TestThe Mid-Semester Test is a multiple-choice practice test covering the first five weeks of semester. It is only available for ten days between weeks 5 and 7 of semester. Use it to find out if you are on track.
- Live Study Support WebinarThe Live Study Support Webinar takes you through a range of study support tips, such as summary note taking, index building, ideal study blocks and your study environment. It is also recorded so you can watch it later.
- Live Exam Preparation WebinarThe Live Exam Preparation Webinar gives you key study and exam tips from our experts. It is also recorded so you can watch it later.
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$250per subject
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- Video Tutorials & WebinarsVideo Tutorials & Webinars are short videos that cover technical content and address complex areas and candidate pain points in each module, helping to guide you through the study guide and keep you on track during the semester.
- PDF DownloadsPDF Downloads are provided for key pieces of content including webinar slides, flowcharts, case studies and assumed knowledge primers. Additional downloads may be in spreadsheet, presentation or document form.
- Revision QuizzesRevision Quizzes are practice tests such as module quizzes and quick-fire quizzes that are available for each module, consisting of multiple choice questions with detailed solutions to reinforce your learning.
- Mid-Semester TestThe Mid-Semester Test is a multiple-choice practice test covering the first five weeks of semester. It is only available for ten days between weeks 5 and 7 of semester. Use it to find out if you are on track.
- Live Study Support WebinarThe Live Study Support Webinar takes you through a range of study support tips, such as summary note taking, index building, ideal study blocks and your study environment. It is also recorded so you can watch it later.
- Live Exam Preparation WebinarThe Live Exam Preparation Webinar gives you key study and exam tips from our experts. It is also recorded so you can watch it later.
- Expert Q&A ForumThe Expert Q&A Forum allows you to post questions and receive expert responses. It also includes access to our KnowledgeBase search feature.
- 2 x Full-Length Practice ExamsOur Practice Exams are full CPA length, format and timed to give you a real exam experience. Every question has an answer explanation, and our Exam Report shows you your score by module. You can also check out our scaled score estimates to see how you're tracking based on candidate results from previous semesters.
Course Materials
Subject overview and FAQs
Study Essentials - 2026
Timetable and Study Plan - FRM
FRM FAQs
FRM - Overview
Mid-Semester Test
Mid-Semester Test Information
Practice Exams
Practice Exam Information
MODULE 1
FRM M1 - Introduction to risk
FRM M1 - Risk management process - Part A
FRM M1 - Risk management process - Part B
FRM M1 - Financial risks
FRM M1 - Framework for financial risk management
FRM M1 - Module Quiz
MODULE 2
FRM M2 - Part A: Cash flow management and stress testing
FRM M2 - Part A: Liquidity management and free cash flow
FRM M2 - Part B: Working capital management
FRM M2 - Part C: Cost of capital and capital structure
FRM M2 - Part C: WACC
FRM M2 - Module Quiz
MODULE 3
FRM M3 - Part A: Sources of funds for businesses
FRM M3 - Part B: Funding for specific types of businesses
FRM M3 - Part C: Capital budgeting techniques - AAR and NPV
FRM M3 - Part C: Capital budgeting techniques - IRR and mutually exclusive projects
FRM M3 - Part D: Additional issues in capital budgeting
FRM M3 - Module Quiz
MODULE 4
FRM M4 - The role of derivatives
FRM M4 - Futures and forwards
FRM M4 - Swaps and options
FRM M4 - Exotic derivatives and credit risk
FRM M4 - Module Quiz
Quick Fire Quiz (M1 - M4)
FRM - Quick Fire Quiz 1
MODULE 5
FRM M5 - Importance and drivers of interest rates
FRM M5 - Interest rate management: Step 1-3
FRM M5 - Interest rate management: Step 4-5 - Part A
FRM M5 - Interest rate management: Step 4-5 - Part B
FRM M5 - Module Quiz
MODULE 6
FRM M6 - Part A: Foreign exchange risk - background
FRM M6 - Part A: Foreign exchange risk management - Step 1- 4
FRM M6 - Part A: Foreign exchange risk management - Derivatives
FRM M6 - Part B: Commodity price risk
FRM M6 - Module Quiz
MODULE 7
FRM M7 - Financial instruments definitions
FRM M7 - Part A: Accounting concepts
FRM M7 - Part B: Hedge accounting concepts
FRM M7 - Part B: Hedge accounting treatment
FRM M7 - Part B: Hedge effectiveness and documentation
FRM M7 - Module Quiz
MODULE 8
FRM M8 - Culture of risk management
FRM M8 - Internal control framework
FRM M8 - Governance framework for financial risk management
FRM M8 - Operational risks
FRM M8 - Module Quiz
Quick Fire Quiz (M5 - M8)
FRM - Quick Fire Quiz 2
Revision
FRM - Quick Fire Quiz 1
FRM - Quick Fire Quiz 2
FRM - Revision Plan